India, March 20 -- Oil prices edged higher on Thursday, extending a recent rebound as signs of strong demand in the U.S., the world's biggest fuel consumer, outweighed OPEC+ supply and China demand concerns.
Benchmark Brent crude futures jumped 0.7 percent to $71.27 a barrel in European trade while WTI crude futures were up 0.7 percent at $67.40.
Data released by the Energy Information Administration (EIA) released on Wednesday showed crude oil inventories in the U.S. increased by more than expected last week.
However, distillate stocks saw an unexpected, outsized draw, far outpacing builds in broader inventories and fuel stocks.
Gasoline inventories dipped by 0.5 million barrels last week, allaying concerns about near-term demand destr...